Crime : Page 125

Citigroup to pay $100 million to settle U.S. Libor rigging probe

June 18, 2018 Citigroup agreed to pay $100 million to settle charges by most U.S. states that it defrauded government and nonprofit entities by manipulating Libor, an interest rate benchmark that underlies a wide range of consumer transactions.

Former executives at transportation company charged with $245 million fraud scheme

June 16, 2018 Two former executives of Roadrunner Transportation Systems, a publicly traded transportation and trucking company formerly headquartered in Cudahy, Wisconsin, were charged in an indictment unsealed for their alleged participation in a complex accounting and securities fraud scheme that resulted in a loss of more than $245 million in shareholder value.

Russian HP subsidiary fined $40,000 for competition law violation

June 14, 2018 The Federal Antimonopoly Service (FAS) has fined Russia’s subsidiary of Hewlett-Packard (HP) company 2.5 million rubles (about $40,000) for violation of competition legislation, the watchdog’s statement reads.

Volkswagen to pay €1 billion fine over emissions

June 14, 2018 The Braunschweig public prosecutor issued an administrative order against Volkswagen in the context of the diesel crisis.

PwC to pay £10 million, Denison banned from work for 15 years

June 13, 2018 The Financial Reporting Council (FRC) in the UK has sanctioned PriceWaterhouseCoopers (PwC) and audit partner Steve Denison in relation to the 2014 audits of BHS and the Taveta Group following an investigation under the Accountancy Scheme opened in June 2016.

SEC charges Merrill Lynch for failure to supervise RMBS traders

June 12, 2018 The Securities and Exchange Commission (EC) announced that Merrill Lynch, Pierce, Fenner & Smith will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities (RMBS).

KPMG fined $4.3 million over audit of Quindell

June 11, 2018 Britain’s accounting watchdog fined KPMG 3.2 million pounds ($4.3 million) for failings in its audit of Quindell after the legal services firm twice restated its accounts leading to heavy losses.

Canara Bank to pay £896,100 for anti-money laundering fail

June 8, 2018 The Financial Conduct Authority (FCA) has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days.

Sprint awarded $26.9m in cell phone trafficking suit

June 8, 2018 Sprint has been awarded $26.9 million in damages from Wireless Buybacks and Wireless Buybacks Holdings.

Legg Mason to pay $64 million to resolve FCPA charges related to bribery of Gaddafi-era

June 5, 2018 Legg Mason, a Maryland-based investment management firm, has entered into a non-prosecution agreement with the Department of Justice and agreed to pay $64.2 million to resolve the Department’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) in connection with Legg Mason’s participation, through a subsidiary, in a Libyan bribery scheme.

Societe Generale reaches deals to end probes on rates, Libya

June 4, 2018 Societe Generale said it had reached agreement with U.S. and French authorities to settle inquiries into the rigging of Libor interest rates and its dealings in Libya.

Australia's largest bank to pay record penalty over money laundering

June 4, 2018 Commonwealth Bank of Australia (CBA) announced it has entered into an agreement with AUSTRAC, the Australian Government’s financial intelligence agency, to resolve the civil proceedings commenced by AUSTRAC in the Federal Court of Australia.